Bitmine earned $45.7 million last quarter from Ethereum staking and validation, but booked a $92.1 million loss on Ethereum-linked option trading, resulting in an $83.6 million quarterly net loss. Revenue rose to $46.5 million for the quarter ended May 31. Over nine months, derivative losses totaled $133.3 million. The company issued about 340.7 million shares to fund Ethereum purchases and reported large unrealised digital-asset losses, while saying it has liquidity for at least 12 months.

Bitmine, an ethereum treasury company, bought an additional 52,202 ether in a week, raising its total holdings to 5,672,956 ether. As of June 21, this amounts to 4.7% of ethereum’s total supply of 120.70 million tokens, about 94% of its stated 5% target. Bitmine valued its ether at $1,733 per token and put total ether holdings at $9.83 billion, with total assets at $10.7 billion including bitcoin, cash, securities and other investments.